Finding a new home for Gold

Good Day... and a Tom Terrific Tuesday to you! Well yesterday was a great Big nothing burger... Yes, Gold made it back to $4,000 but besides that, the dollar remained flat, and so on... The Brewers are making mincemeat out of the Rays in the World Series. And we're going to remove more Oil from our reserves... UGH! This is tardy today, I overslept having just gone to sleep at 4 am.... Live greets me this morning with their Big hit song: Selling The Drama

Well, I already told you that the dollar remained at 1,222 in the BBDXY yesterday. Yesterday, I told you that I thought the dollar traders had come to fork in the road with the dollar... On one hand, the economic data has had a better feel to it. But... The darn old Debt is hanging over us like the Sword of Damocles... And yesterday it was too much of a weight on their shoulders... And with the FOMC planning on a 2-day meeting starting tomorrow, and ½ of the forecasters have them hiking rates again... and ½ of the forecasters not calling for a rate hike before the mid-term elections... The dollar is in a pickle...

Gold/Silver found a way through the gauntlet of SPTs and rallied for the day yesterday... Gold gained $21 to $4,018... And Silver gained $24-cents to $54.08... the falling yields of the 10-year Treasury, is helping Gold to find some terra firma... Most of the gains in Gold/Silver yesterday came in the overnight markets... that and the war rhetoric has abated a bit ahead of the mid-term elections... 

The price of Oil saw a small increase yesterday and ended the day at $101 and change... And the 10-year didn't see any Fed Head buying and it gained one basis point to end the day at 4.97%

Speaking of Oil... Apparently, we are going to remove 400,000 gallons of Oil from our SPFs (Special Reserves) which will bring our reserves to the lowest they have been since 1982, and could bring the reserves that remain to a very watery state, and cause the salt cave that they are held in, to see their walls begin to crumble... This is a BIG Move folks, and one without risks... I'm just saying...

In the overnight markets last night... The dollar finally got off its duff and gained 2 index points in the BBDXY... The rhetoric regarding the war starting up has faded, and therefore the dollar traders saw that they needed to buy some dollars... The dollar is still in a pickle, and it can be traced back to the Debt... But what else is new?

The price of Gold is up $5 to start the day... it rallied because of the same thing that moved the dollar. Silver on the other hand is seeing some STP selling and it has moved below $54...

Remember, I told you that Silver would be a laggard to Gold's rally because of all the short contracts that Silver has....

The price of Oil remained at $100 overnight... Not much going on here right now, so Oil traders tthought it best to keep their powder dry... And the 10-year Treasury climbed back to 5% this morning... The 10-year's performance is tied to the Fed Heads and whether they are buying or not... 

Well? Did you like the links I provided for you yesterday? They were quite good in my humble opinion... 

There's a rumor going around that even though the U.S. joined Japan in their intervention of the yen to save them from having to sell some Treasuries, Japan is looking to sell $1.4 Trillion of Treasuries... Uh-Oh... This would be catastrophic to the U.S.... Thanks for nothing, Japan... It shows to go you that the U.S. is losing its allies.. 

Remember when I used to say: Let's dissolve the changes instituted in 1913? The first change, was to create the Federal Reserve, the second was to create an income tax, and the third changed the way that Senators were sent to D.C... 

Let's let Doug Casey have his say about the Fed...

From 1913 to the present, the estimated US broad money supply has expanded close to 1,500-fold.

The government’s rigged CPI statistics say the dollar has lost over 97% of its value since 1913.

Measured in gold, the US dollar has lost 99.5% of its value.

The dollar’s decline since 1913 echoes the fate of Rome’s denarius. Between AD 180 and 280, Rome stripped all but a trace of the silver from its currency as the empire descended into terminal decline."

Chuck again... this is an easy description of what those bankers on Jekyll Island, GA. Did when they created The central Bank of the U.S.

The U.S. Data Cupboard finally has something for us today as the Sept print of Durable Goods Orders... The previous month's print was 0% growth, so anything positive would be welcomed... and another brick in the Wall (Pink Floyd) for the next rate hike 12/9

To recap...not much moved and when it did move it moved in the right direction... The dollar remained at 1,222, Oil gained a buck, the 10-year gained 1 Bps, and the currencies remained in their sick beds

For What It's Worth... The whereabouts of Gold holdings is becoming a real problem for Gold holders... In this case, Singapore has become a leading holding place for Gold holders.

Here's your snippet: "Gregor Gregersen’s first Singapore bullion business began from under his bed. He stashed silver, though not much of it, and trades took place at his neighborhood train station as he tested for local demand.

Almost 17 years later, the German-born former bank data architect owns a six-story, 180,000-square-foot mega-vault with enough room to house about 10% of the world’s annual gold supply and 30% of yearly silver supply. Now, the business has not only outgrown his bedroom but the local clientele, and he’s selling more space to foreign investors who want their bullion stored somewhere farther away.

Gregersen isn’t alone in benefitting from this trend. Banks and precious metals dealers in the city-state say a growing number of wealthy American, European and Middle Eastern investors, unsettled by wars, government debt and political uncertainty at home, are looking to diversify where they hold their gold. Rich overseas investors are sending their metal to Singapore, seeking something that the precious metal cannot provide on its own: a reassuring place to keep it.

Private gold holdings in Singapore have surged about 16-fold from 2014 to over 800 metric tons last year, with a majority of the increase coming from Europe, according to estimates by bullion dealer J. Rotbart & Co. The company forecasts that to grow further this year and next.

Golden Gains

Private gold holdings in Singapore are expected to grow, driven by inflows from wealthy European and US investors.

Note: The cumulative estimates include bullion held by family offices, high-net-worth individuals and institutions; excludes MAS’s sovereign gold reserves.

“Old wealth families who were holding physical gold in other jurisdictions are moving some part of that to Singapore,” said Manish Tibrewal, co-founder of Singapore-based multi-family office Farro Capital, which provides financial advisory services to ultra-high-net-worth families. “The other set of families who had never bought physical gold are now buying that either through private banks or directly through bullion dealers” to store in the city-state.

Singapore is working to turn that shift into business. Banks, including Nomura Holdings Inc. and Oversea-Chinese Banking Corp., are adding services to trade and hold the metal there. Government authorities are building infrastructure to make the country a bigger bullion market."

Chuck Again... I think that other places in the world see this, and think they too should get into the Gold Vaulting thing.... 

Market Prices 10/27/26: American Style: A$ .7032, kiwi .5707, C$ .7129, euro 1.1147, sterling 1.3325, Swiss $1.2065, European Style: rand 16.6472, krone 9.3209, SEK 9.9373, forint 329.49, zloty 3.9487, koruna 21.8471,  RUB 80.63, yen 157.82, sing 1.2812, HKD 7.8445, INR 95.11, China 6.6852, peso 18.64, BRL 5.3449, BBDXY 1,224, Dollar Index 102.18, Oil $100.89, 10-year 5%, Silver $53.89, Platinum $1,519.00, Palladium $1,034.00,     Copper $6.59 and Gold... $4,022.

That's it for today... I received information about early voting, of which I would prefer to do, since my back cramps up when I stand too long, and none of the places that allow early voting are near us? UGH! The Brewers sure laid a beating on the Rays last night, and only needs to win 1 more game to win the World Series... I slept most of yesterday, as I haven't been sleeping well at night, so I made up for my lack of sleep last night... The Strawbs take us to the finish line today with their great 70's song: Autumn  I hope you have a Tom Terrific Tuesday today, and Please Be Good To Yourself!